Capital Spending

  • Major Themes For Producers In Q1: Inflation, Shareholder Returns, Debt Reduction

    The DOB has synthesized our coverage of producers’ first quarter reports and conference calls to highlight the dominant themes that emerged.

    June 3, 2022, 6 AM MDT

  • Saturn In Sask. Viking Light Oil Acquisition

    Saturn Oil & Gas Inc. has entered into an arm’s-length definitive agreement to acquire synergistic assets in the Viking area of west-central Saskatchewan for approximately $260 million.

    June 1, 2022, 12 AM MDT

  • Kaybob Duvernay Key Part Of Crescent Point’s Current Success; Saskatchewan Still Matters

    Saskatchewan remains important for Crescent Point Energy Corp., even as the company increases its Alberta focus following last year’s Kaybob Duvernay acquisition, says president and chief executive officer Craig Bryksa.

    May 20, 2022, 12 AM MDT

  • Kiwetinohk ‘Accelerates’ 2022 Upstream Development Program

    Kiwetinohk Energy Corp. this morning outlined an acceleration and expansion of its 2022 upstream operational program, resulting in increased 2022 guidance.

    May 18, 2022, 12 AM MDT

  • Saturn Boosting Capital Spending

    As a result of the strong economics of the recent drilling programs, Saturn Oil & Gas Inc. has increased its 2022 capital expenditures budget by $6 million with three additional wells to be drilled at the Oxbow asset and the drilling of three additional wells in the Viking asset.

    May 16, 2022, 7:30 AM MDT

  • Cardinal Expects To Exceed Annual Production Guidance After Strong Q1 Start

    Cardinal Energy Ltd. expects to exceed production guidance for the year after a successful 10-well drilling program in the first quarter — including four Clearwater oil wells, two Dunvegan light oil wells and four wells in its Southern Alberta area — increased current output.

    May 13, 2022, 10:02 AM MDT

  • Rubellite Picks Up More Clearwater Land

    Subsequent to the end of the first quarter, Rubellite Energy Inc. executed a definitive agreement for the previously announced Peavine transaction located in the vicinity of recent industry Clearwater drilling activity and southwest of Rubellite's existing option acreage at West Dawson in northern Alberta.

    May 12, 2022, 5:25 AM MDT

  • Headwater Boosting Capital Budget

    Headwater Exploration Inc.'s board of directors has approved an increase in the 2022 capital budget to $230 million from $145 million. 

    May 12, 2022, 3:11 PM MDT

  • Ovintiv Reviewing ‘Evolving Commercial Opportunities’ For LNG

    Ovintiv Inc. is “actively looking” at commercial opportunities for its gas that includes LNG, says the company’s chief executive.

    May 11, 2022, 9:45 AM MDT

  • Pipestone Energy Boosting Capital Spending

    Pipestone Energy Corp. is increasing its 2022 capital guidance range to $225 - $235 million (up from $210 - $220 million).

    May 11, 2022, 6:11 AM MDT

  • NuVista Hikes 2022 Capital Spending Forecast

    NuVista Energy Ltd. has elevated its capital expenditure guidance for 2022.

    May 11, 2022, 12 AM MDT

  • InPlay Monitoring Inflation; Lifts Capex

    The supply of steel casing and tubular products required to drill wells has been a big issue identified by InPlay Oil Corp.

    May 11, 2022, 7:38 AM MDT

  • TransGlobe Targets Cardium Completions For June, July

    Two 100 per cent working interest (one two-mile, and one one-mile) horizontal Cardium wells were drilled in the South Harmattan area, reported TransGlobe Energy Corporation in its Q1 report.

    May 11, 2022, 9:09 AM MDT

  • Journey Lifts Capital Spending Plan

    Journey Energy Inc. announced an increase to its 2022 capital budget to $78 million, which includes E&D activities, spending for future power generation projects and A&D activity.

    May 10, 2022, 12 AM MDT

  • 2022 Capex Trends – Cost Inflation Being Felt By E&Ps: Impact On Capex Guidance To Come?

    Whitecap Resources Inc. says 2022 operations have been impacted by cost inflation, labour shortages and supply constraints from service providers, and the company’s management expects these pressures will continue to rise through the balance of the year.

    May 9, 2022, 6 AM MDT

  • Ovintiv Boosts Capex Forecast On Inflationary Pressure

    Ovintiv Inc. has raised its full year capital investment guidance to approximately $1.7–$1.8 billion from $1.5 billion.

    May 9, 2022, 3:56 PM MDT

  • Tourmaline Steps Up Capital Expenditure In 2022

    Tourmaline Oil Corp. is expanding its exploration and production capital spend in 2022, according to a report covering the company’s results in the first quarter of this year.  

    May 5, 2022, 12 AM MDT

  • Kelt Boosts Capital Plan

    Kelt Exploration Ltd.’s board of directors has approved an increase to the company's capital expenditure program for 2022.

    May 5, 2022, 11:18 AM MDT

  • Canadian Q1 Earnings Surge For ConocoPhillips

    ConocoPhillips’s earnings in its Canadian segment surged in the first quarter, while production declined during the three-month period.

    May 5, 2022, 6 AM MDT

  • Paramount Picks Up Duvernay Land

    In late April, Paramount Resources Ltd. acquired Duvernay lands and production directly offsetting its existing 61,000 net acre position in the Willesden Green area of Alberta for approximately $40 million in cash, prior to adjustments.

    May 4, 2022, 12 AM MDT

  • Tamarack Bumps Up Spending Guidance As Cost Pressures Mount

    Tamarack Valley Energy Ltd. has updated its 2022 corporate guidance to reflect its recent acquisition of Rolling Hills Energy Ltd., as well as changes in the commodity price environment.

    May 4, 2022, 1:07 PM MDT

  • Gear Hikes Capital Budget, Implements ‘Variable’ Dividend

    As a result of significantly improved commodity prices, Gear Energy Ltd. intends to increase its planned 2022 capital and abandonment expenditure investment to $55 million from $40 million.

    May 4, 2022, 2:15 PM MDT

  • Inflation Remains A Hot Topic For MEG In 2022, And Likely Will Remain So In 2023

    MEG Energy Corp. is “definitely seeing inflationary pressures” as management continues to monitor the inflation situation closely, says chief operating officer Darlene Gates.

    May 3, 2022, 1:45 PM MDT

  • Whitecap Says Inflationary Pressures Felt In Q1 Will Only Increase As 2022 Unfolds

    Whitecap Resources Inc. says 2022 operations have been impacted by cost inflation, labour shortages and supply constraints from service providers, and the company’s management expects these pressures will continue to rise through the balance of the year.

    April 29, 2022, 12 AM MDT

  • Baytex Boosts Capital Spending, Increasing Activity In the Clearwater

    Baytex Energy Corp. is boosting its capital spending forecast for 2022, which will include increased drilling activity in the Clearwater. 

    April 29, 2022, 12 AM MDT

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